The Nevada Homeowner Bill of Rights is a set of laws that protect homeowners in Nevada. It was passed in 2019 and applies to all residential mortgages, including mortgages on single-family homes, condos, and townhouses.

The Homeowner Bill of Rights includes the following provisions:

• Right to a timely response from your lender. If you have a question or problem with your mortgage, your lender must respond to you within 15 days.
• Right to a clear and concise explanation of your mortgage terms. Your lender must provide you with a clear and concise explanation of your mortgage terms, including the interest rate, monthly payment, and any fees.
• Right to a free copy of your mortgage documents. You have the right to a free copy of your mortgage documents, including the promissory note and mortgage.
• Right to a fair and impartial evaluation of your loan modification application. If you apply for a loan modification, your lender must evaluate your application fairly and impartially.
• Right to a foreclosure mediation hearing. If you are facing foreclosure, you have the right to a foreclosure mediation hearing. This is a chance for you and your lender to try to reach an agreement to avoid foreclosure.
• Right to a 30-day notice before foreclosure. Your lender must give you at least 30 days’ notice before they can foreclose on your home.
• Right to a right of redemption after foreclosure. If your home is foreclosed on, you may have the right to redeem it within a certain period of time. This means that you can buy back your home from the lender.

The Homeowner Bill of Rights is a valuable resource for homeowners in Nevada. If you are facing a problem with your mortgage, you should be aware of your rights under this law.

Here are some additional things to keep in mind about the Nevada Homeowner Bill of Rights:

• The law applies to all residential mortgages, including mortgages on single-family homes, condos, and townhouses.
• The law does not apply to commercial mortgages or mortgages on second homes.
• The law does not create new rights for homeowners. It simply codifies existing rights and makes them easier for homeowners to enforce.

If you are facing a problem with your mortgage, you should contact one of our attorneys who specialize in real estate law. They can help you understand your rights under the Homeowner Bill of Rights and can represent you in negotiations with your lender.